We will be active in payments services, congresswoman, and enable all of these people who dont have access modern Payment Systems to move their money around and have access to World Economy and will be in the payments business, as far as colibra wallet. Let in ask you another question on governance. In your open statement you said it would nothing be overpowered by facebook because you would only have one vote. So, in the world of banking, because in my mind its still banking, were dealing with a lot of banks who merged so lets sea with your one vote you would buy stripe or you would buy spotify. Would that now just give you the one vote or guff you more control . Because we know these things merge and get bought out all the time. So if you bought to the things would that give you more power. It would not, congresswoman, because in the way that the governance is currently structured no one entity can have more than one voice or one percent of the vote. So let me go to someone asked bit
Facebook has announced plans for a new Digital Currency, called libra. David marcus testified for the House Financial Services committee. The committee will come to order. The chair is often recess of the committee at any time. This is entitled based proposed crypto currency an impact on consumers, investors, and the American Financial system. I will now give an Opening Statement for five minutes. Today we are here for a hearing on its books proposed Digital Currency, libra, and digital wallet, and the impact on consumers, investors, and the Financial System. David marcus, following his testimony, a panel of experts will share their views on this book plans, is there are serious concerns about the creation of a Digital Currency and digital wallet to expand its reach, like mastercard, paypal, visa, uber reggie lyft rideshare, and specify. Is trying to create a new global fund to rival the us dollar this venture is slated to be based in switzerland, which has a history of creating a have
Investors, and the American Financial system. I will now give an Opening Statement for five minutes. Today we are here for a hearing on its books proposed Digital Currency, libra, and digital wallet, and the impact on consumers, investors, and the Financial System. David marcus, following his testimony, a panel of experts will share their views on this book plans, is there are serious concerns about the creation of a Digital Currency and digital wallet to expand its reach, like mastercard, paypal, visa, uber reggie lyft rideshare, and specify. Is trying to create a new global fund to rival the us dollar this venture is slated to be based in switzerland, which has a history of creating a haven for criminals and shady corporations. This plan includes serious privacy training, and monitoring of policy concerns. With 2 billion users, will have immediate access to these products, but also from consumers, festers, and the global economy. In addition, facebook has proposed government guarante
i m maria bartiromo at the new york stock exchange. i m bill griffeth. the nasdaq has turned positive. modest declines in the home stretch. we are off the lows of the session right now. earlier equities fell on weak reports on the u.s. economic data. however, stocks are still poised. get this, for the best january we ve had in about 15 years. that s kind of hard to believe. but that s true. a couple of high-profile names are under pressure in the final hour. shares of netflix lower following news that sky is planning an internet movie streaming service of its own in the uk. that movie seen as a negative for netflix, which launched its own streaming service in the uk and ireland just three weeks ago. also under pressure right now, shares of sears holding. that stock down on reports that cit group is once again cutting off loans to sears suppliers. we ll have more on those stories straight ahead here. let s take a look at these averages here. we ve got a great month of janu